Understanding the Loan Estimate and Navigating the Closing Disclosure: TILA/RESPA Integrated Disclosures 2015

Key Topics

• Section by Section Walk-Thru of the Loan Estimate
  • Timing on providing the loan estimate
  • Defining the terms application, business day and variance thresholds
  • Restrictions on providing the loan estimate
• Combining the GFE and Initial TIL
• Combining HUD-1 and Final TIL
• Exemptions and Applicability of the Law
• Other Considerations of the Loan Estimate and Closing Disclosure
  • Specific items to watch for in comparison to previous forms
• "Deep Dive" in to the Closing Disclosure
  • Restrictions on providing the closing disclosure
  • Timing on providing the closing disclosure
  • Defining sections A-J including examples
  • Defining the terms closing date, disbursement date, settlement agent, file #, property, sale price, and MIC #
  • Extensive overview of pages 1-5 of CD

Who should Attend

• Operations Personnel (Disclosure Desk, Processors, Closers, Funders)
• Compliance Officers
• Branch Managers
• Mortgage Loan Officers